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0 News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/ivory-coast-warns-of-rising-cocoa-prices-amid-u-s-tariff-threats/
The Ivory Coast, the world’s largest cocoa producer, is considering retaliatory economic measures as the United States contemplates imposing steep tariffs on its exports.
Proposed tariffs of 21%, the highest among West African nations, have prompted Agriculture Minister Kobenan Kouassi Adjoumani to caution that American consumers may soon encounter steeper chocolate prices.
“If you tax our cocoa, we’ll increase its price. Ultimately, the end consumer bears the cost,” Adjoumani stated during a press briefing in Abidjan. While global markets influence cocoa pricing, the Ivory Coast could raise export levies to mitigate the impact of U.S. tariffs, potentially elevating costs for American importers.
Although the Biden administration has delayed the tariffs for 90 days, the Ivorian government is actively pursuing stronger trade partnerships with the European Union. “If the U.S. shuts its doors, the EU will open theirs wider,” Adjoumani remarked, signaling a potential shift in export strategy.
Annually, the Ivory Coast exports between 200,000 and 300,000 metric tons of cocoa to the U.S., according to the nation’s Coffee and Cocoa Council. A prolonged tariff dispute could disrupt global supply chains, destabilizing prices for chocolate manufacturers and retailers worldwide.
As negotiations continue, stakeholders from cocoa farmers to multinational confectionery firms are preparing for possible market turbulence. The escalating trade tensions underscore the fragility of global commodity networks, with implications that may soon resonate on supermarket shelves.
The interdependence of international trade systems highlights how regional policy shifts can ripple across industries. Historically, agricultural tariff disputes have spurred realignments in export strategies, as seen in past conflicts over steel and soybeans. While the immediate focus remains on cocoa, the outcome of this standoff could set precedents for future trade negotiations involving perishable commodities.
News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://newsghana.com.gh/ivory-coast-warns-of-rising-cocoa-prices-amid-u-s-tariff-threats/
